June 27, 2018 / 6:27 AM / in 9 months

Engie pushes emission solutions in China; in deal with real estate co

BEIJING (Reuters) - French utilities and gas company Engie has tied up with a Chinese real estate company to help industrial parks and cities in China reduce emission using integrated solutions, Engie CEO Isabelle Kocher said on Thursday.

FILE PHOTO: The logo of French gas and power group Engie is seen on the company tower at La Defense business and financial district in Courbevoie, near Paris, France. May 16, 2018. REUTERS/Charles Platiau/File Photo

The move is a departure from Engie’s traditional business such as supplying gas to China and is part of the company’s global strategy to ramp up revenue from utility services tailored to the need of clients.

Kocher declined to reveal the name of the real estate developer.

“We are much less an energy producer. We help our clients consume less energy,” he said in a speech at Beihang University.

According to a French government statement released on Monday, Engie has signed a Memorandum of Understanding with Chinese real estate developer TUS-Holdings Co. Ltd to develop a 150 megawatt solar project and offshore wind projects.

“We supply gas to China from time to time, but it’s not our main business here,” Kocher told Reuters. “Our clients have more appetite for other technologies.”

China has pledged to bring its carbon emissions to a peak by “around 2030” or earlier as part of a joint pledge made with the United States ahead of the 2015 Paris talks, to help bridge the gap between developed and developing countries.

The country accounts for more than a quarter of global emissions.

Kocher said Engie’s main focus in China has shifted to develop solar projects and new technology that help cities and office buildings save energy such as using water instead of traditional fuel to cool the building.

Engie has a 30 percent stake in Chinese solar producer UNISUN.

Reporting by Meng Meng and Josephine Mason; Editing by Sunil Nair

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